AbraSilver Resource – Drill Hole Testing Porphyry Potential at Oculto East Intercepts Broad Mineralization Of 274 Metres Grading 0.60 g/t Gold
John Miniotis, President and CEO of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), joins us to review the latest batch of drill assays announced December 10th, returning the broadest gold mineralization intercepted to date, from the ongoing Phase V exploration program. These holes were testing for the potential of porphyry mineralization at dept at the Oculto East area of their wholly-owned Diablillos property in Salta Province, Argentina.
John reviews the three latest drill holes from the ongoing Phase V exploration program and that hole # DDH 25-085 at Oculto East intersected a broad 274.0 metre ("m") interval grading 0.60 g/t gold, including a higher-grade 23.0m grading 2.83 g/t gold, together with copper and molybdenum mineralization at depth.
- This is the deepest drill hole completed to date at Oculto, and it successfully tested a major structural-intrusive corridor extending beneath Oculto East, intersecting pervasive silicification, brecciation, and advanced argillic-silicic alteration interpreted to be related to a larger intrusive at depth.
- The deeper copper-molybdenum-gold mineralization is characteristic of fertile porphyry environments, and the alteration encountered is consistent with the upper portions of a significant intrusive center of well-developed porphyry systems.
- These features reinforces the scale, strength, and multi-phase nature of the Diablillos mineralizing system, and clear geological evidence of a vertically extensive system.
- These results highlight substantial additional exploration potential across the property, which will be followed up on in a Phase 6 drill program.
Drilling continues to extend oxide-hosted gold mineralization well beyond the current conceptual open pit, and this deeper drilling provides further support for a significant porphyry system underlying Oculto. The Phase V drill program remains on track for completion before year-end. To date, 60 holes have been drilled as part of the program and the final six holes will be completed before year-end. John reminds listeners that a deep drill hole was recently completed at the Cerro Viejo porphyry target, located approximately 4 kilometres northeast of Oculto, and assay results are expected shortly.
The Company plans to commence a Phase VI drill program totaling approximately 15,000 metres in January 2026, focusing on Mineral Resource expansion, select deeper porphyry-related targets, and continued step-outs across the Oculto-JAC mineralized cluster. Further details will be provided early in the New Year.
An updated Mineral Resource estimate, incorporating all Phase V drilling, remains scheduled for H1/2026. This estimate will be used for an updated Mineral Reserve and mine plan that will underpin the ongoing Definitive Feasibility Study (DFS) that will be completed in the same time frame. These workstreams are all happening in tandem with work towards permits which are expected to be received around that same time next year. Execution on these key catalysts will be the trigger for a construction decision next year.
Wrapping up John reiterates why the limited RIGI laws are so economically advantageous to the Company, relaxing currency controls, reducing export duties to 0% over a couple years, and reducing taxation over a 30 year period. We also review the positive business and permitting tailwinds in place in Argentina as a jurisdiction for mining.
If you have any follow up questions for John regarding at AbraSilver, then please email them into us at Fleck@kereport.com at Shad@kereport.com .
- In full disclosure, Shad is a shareholder of AbraSilver Resource Corp at the time of this recording and may choose to buy or sell more shares at any time.
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